Descending Triangle Pattern: USDJPY at the key bottom

USDJPY Triangle analysis

USDJPY has formed a Descending Triangle pattern by creating lower highs and equal lows in the 4-hour timeframe chart.

The descending triangle is going to break soon.

Let’s wait for the confirmation of breakout from this Triangle range.

US economy grew faster from the second quarter, since output lost in the second quarter.

Commerce department shows US gross domestic product grew at 33.1% annual in the quarter and shows reading above 31% contraction in the second quarter. But this reading is above the expected value of 31.9%.

America African sittng jobless claim

Initial jobless claims also fell to 7.756 million and expected to lowest since March.

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FOREX GDP

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FOREX GDP